Jeff Park says Bitcoin whales' covered calls drag prices; some warn of $76,000

On December 14, 2025, ProCap BTC CIO Jeff Park said long‑term Bitcoin holders are increasingly selling covered calls, adding sell‑side pressure and weighing on spot prices. Some market voices expect further volatility, with bearish calls around $76,000 and recent lows near $80,000, while rate‑cut expectations have stirred hopes for a rebound.